If you are looking at buying an existing business as an alternative to starting your own, it is important that you carry out extensive research and get to know the company and its industry to ensure that it is the right fit for you. You should look at important details such as the existing reputation…
If you are self-employed, you will have to pax taxes depending on the profit your business made over the tax year. One of the benefits of being self-employed is that you can claim expenses that were necessary to run your business, which can help to reduce your tax bill. Any business overheads such as lighting,…
With many businesses continuing to work remotely, or even if you have moved back into the office, different types of meetings can take up a large portion of a business owners’ day. Without a clear structure or suitable preparation, these business meetings can often become unproductive and a waste of time or resources. If you…
Business owners must always be prepared to adapt to the changing environment of their industry, as it is impossible to predict what will happen in the future. One of the best ways you can prepare for change is to plan effectively, and financial forecasting is a key element of this. This can help you cope…
Small businesses are an essential part of every local economy. They offer a personal touch and unique customer service. This is something that is not always possible to receive from a larger business with a high number of employees and multiple branches to take care of. Whether it is a coffee shop or a clothing…
If your business charges VAT, you will be aware that from April 2019, you now have to file your accounts through the HMRC Making Tax Digital (MTD) system if your taxable turnover was above £85,000. From April 2022, businesses below this threshold have to start using this system too, so it is important that you…
For higher rate taxpayers, buying an investment property through a limited company can have numerous benefits. If you are considering setting up as a limited company as opposed to applying for a personal buy to let mortgage, you can take advantage of lower tax rates and limited liability. This can make owning and renting out…
There are many factors to consider before deciding on the sale of your business, but if you believe it is the right time to move on, there are numerous steps involved in the sales process. You will want to make sure that the reasons for the sale are the right ones, and not purely because…
If you are planning to set up a new business in the coming months, you will need to consider what kind of legal structure the business will follow. Whether it be running the business as a sole trader, or running it as a limited company, you will need to decide which option is right for…
If you are looking to invest in any plant and machinery assets for your business, you could benefit from claiming the super-deduction allowance (also known as the 130% allowance). Introduced by Chancellor of the Exchequer Rishi Sunak in 2021 to stimulate the economy following the peak of the Covid-19 pandemic, the 130% tax relief will…
